Risk Management Case Study

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A company has a risk plan and it has estimated budget for the particular period of time. The management has identified certain type of threats and risks for the project and they have planned everything according to that. The following events had taken place in a particular organization in the period of two months.
• The top-two (2) threats have occurred.
• The top opportunity has been realized.
• The project’s risk budget is already exhausted.
• The risk management schedule has been shortened by two (2) months.

Part One (1.Analyze the impact of those events on the project.)
The project can be significantly affected as a result of two top threats. The management has to identify the risk at the beginning of the risk management planning process, …show more content…

It is not an easy task to predict risk or the threat at the beginning of a project (Kaplan & Mikes, 2012). The threats can be evident in any phase given below. The threat can be evident in the period of the beginning, planning, executing of the project, controlling as well as closing. In order to face the challenges of the project it is extremely essential to change the strategies of the risk management process. By employing new strategies the management can face the issues related to the threats that the company has to face. The company had to undergo two top class threats in the recent times. This has become one of major effects on the risk management plan of the company, so the company has to find new strategies to face such occurrences, and it has to spend or allocate more finds. There should be changes of the monetary allocations of the risk management process of this organization. The company has to face two top class threats and also it had the chance of taping two opportunities. The incidents have affected the normal performances of the organization and it has to change the activities of the risk register according to the current requirements of the organization, so it is a must to change the schedules of the risk register to face the issues min the future. The management should follow this strategy to change the planning of the

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